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Market Update: US Government Budget Deficit Widens Sharply
The US posted a budget deficit of USD 302 billion in July of 2021, a record for that month, and compared with a USD 62 billion gap in the same period last year and mostly in line with market expectations. Receipts for the month totalled USD 262 billion, down 54% from July 2020, while outlays were USD 564 billion, down 10% from the year-earlier period. For the first ten months of the 2021 fiscal year, the US federal deficit came to USD 2.540 trillion, down 10% from the year-earlier record of USD 2.807 trillion. source: Financial Management Service, US Treasury [/s2If]
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